The Indian Premier League (IPL) has proved its mettle yet again as an industry leader, boasting substantial increases in franchise values in 2023. Leading the pack is the Chennai Super Kings (CSK), who clinched the championship in 2023 and now top the list of brand rankings with a striking valuation of $212 million, a 45.2% rise from its previous value of $146 million in 2022.
Hot on CSK’s heels are the Royal Challengers Bangalore (RCB). Although they haven’t yet secured an IPL title, RCB’s brand value still soared, ranking second at $195 million, up 52.3% from the previous year. According to the report, this surge can be attributed to the charismatic presence of Indian cricket legend and captain Virat Kohli.
Following closely behind, the five-time champions Mumbai Indians (MI) saw their brand value increase by 34.8%, despite not making the playoffs for two consecutive seasons. Now worth $190 million, MI is third on the list, holding onto its standing amongst the top-tier teams.
Before we dive further into the data, let’s take a look at the highlights of the brand value report.
- CSK Most Valuable Brand with Value of $212 Million
- Rajasthan Royals Biggest Percentage Change in Value Year-Over-Year at 103.4%
- Gujarat Titans First Brand Valuation Stands at $120 Million
Full List of IPL Brand Values in 2023
| Franchise | Brand Value 2022 (in USD million) |
Brand Value 2023 (in USD million) |
Change |
|---|---|---|---|
| Chennai Super Kings (CSK) | 146 | 212 | 45.2% |
| Royal Challengers Bangalore (RCB) | 128 | 195 | 52.3% |
| Mumbai Indians (MI) | 141 | 190 | 34.8% |
| Kolkata Knight Riders (KKR) | 122 | 181 | 48.4% |
| Delhi Capitals (DC) | 83 | 133 | 60.2% |
| Sunrisers Hydrabad (SRH) | 81 | 128 | 58.02% |
| Rajasthan Royals (RR) | 59 | 120 | 103.4% |
| Gujarat Titans (GT) | N/A | 120 | N/A |
| Punjab Kings (PBKS) | 63 | 90 | 42.85% |
| Lucknow Super Giants (LSG) | N/A | 83 | N/A |
Media Rights Deal Helps Boost Teams’ Values
The notable surge in the IPL’s overall brand value this year is largely due to the 2023-2027 media rights mega deal struck with Viacom18 and Disney Star. The successful auction brought forth a significant leap in media rights, outperforming even the National Basketball Association (NBA), English Premier League (EPL), and the Bundesliga, and trailing just behind the National Football League (NFL) on a per-match basis.
In this modern era, the shift towards digital platforms for sports consumption has taken center stage. Harsh Talikoti, Senior Vice President, Corporate Valuation Advisory Services at Houlihan Lokey, highlighted this phenomenon in his report, “Viacom18’s strategic push towards promoting digital viewership in India has undeniably reignited the much-needed excitement surrounding the IPL.”
Rajasthan Royals Brand Value Increases Over 100% Year-Over-Year
Other teams in the IPL have also shown promising growth in their brand values. The Kolkata Knight Riders (KKR), Shah Rukh Khan-owned franchise, ranks fourth with a value of $181 million. Even more striking is the Rajasthan Royals (RR), making a significant jump of 103.4% in brand value, now worth $120 million. In fact, the RR team demonstrated the highest incremental brand value in percentage terms year-on-year.
As for the newcomers to the IPL, the Gujarat Titans (GT) first brand valuation was a substantial $120 million, while the Lucknow Super Giants (LSG) initial value stands at $83 million.
Big Teams Drawing Largest Viewership
Another trend emerged from the report showing CSK, RCB, and MI matches drawing peak viewership. Notably, the final match between CSK and GT pulled in an impressive 32.0 million concurrent viewers on the Jio Cinema platform.
The IPL’s revenue model ensures that every franchise benefits from an equal share of the central pool, comprising media rights and central sponsorships. This model, coupled with the undying passion of Indian cricket fans, ensures that the IPL continues to be a valuable asset, regardless of disparities in brand values amongst teams.
As these values continue to climb, we can expect an ever-evolving, increasingly competitive IPL landscape in the future.
